ap4 Flashcards

1
Q

marketing definition

A

Marketing is the management process
involved in identifying, anticipating and
satisfying consumer requirements.

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2
Q

what does marketing involve

A

research, analysing, setting marketing goals, developing strategy

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3
Q

market orientation

A

When a business bases its marketing mix on
its perception of what the market wants.

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4
Q

production orientation

A

When a business bases its marketing
mix on what the business sees as its internal
strengths.

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5
Q

asset-led marketing

A

A marketing strategy based on a
firm’s strengths, not solely on the customers’
needs.

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6
Q

product portfolio

A

A product portfolio:
* spreads fixed costs
* allows for greater economies of scale
* allows the targeting of wider markets
* reduces risk
* smooths out overall sales
* creates opportunities for growth.

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7
Q

branding

A

It is a name, term, sign, symbol or design that
identifies a seller’s products and differentiates
them from competitors’ products.

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8
Q

flexible working

A

A worker on flexible hours
has an agreed number of working
hours. These are made up of core hours
that must be worked – the remainder of
the contracted hours can be worked on
a flexible basis.

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9
Q

scientific school - taylor

A

Motivation is external – money

Employee is a number

One way communication –
heavily supervised

work hard

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10
Q

human relations school - mayo

A

Started to think about the social needs of the employees
teamwork
workings outings

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11
Q

maslow

A

hierarchy of needs

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12
Q

hezburg

A

People face two major influences at work

Hygiene factors & Motivators

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13
Q

vroom

A

each individual will have different
goals

Secondly: people only act to achieve them if
they think there is a change of success

Thirdly: the value of the goal to the
individual affects their motivation

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14
Q

non financial methods of motivation

A

enrichment, enlargement, job rotation, empowerment

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15
Q

financial methods of motivation

A

bonus, commision etc

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16
Q

mcgregors X and Y

A

believed there are two different types of managers

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17
Q

theory X

A

workers only motivated by money
lazy and dislike work, selfish
workers must be supervised

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18
Q

theory Y

A

working is as natural
workers cannot be motivated by money alone
workers want to contribute
workers more efficient

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19
Q

consequences of theory X

A

workers will have little or no ambition,
tasks must be broken down as simple as possible

20
Q

consequence for theory Y

A

requirement for training
flexible working

21
Q

organisational structure

A

The way in which a business is arranged to carry out it’s
activities, eg hierachial structure

22
Q

labour productivity

A

Calculation:
Labour Productivity = output / number employees

23
Q

absenteeism rates

A

no staff absent / total staff x 100

24
Q

labour turnover

A

no of staff leaving per year / avg number staff x 100

25
job sharing
The splitting of an existing job to enable two people to share it. Able to retain staff who otherwise may leave if unable to go part time ☒ Administration costs for training another employee. ☒ Communication between the two employee who are job sharing may breakdown on occasions
26
multi-skilling
Definition: This involves businesses training their workforce to be able to work effectively across a wide range of tasks.
27
part-time employment
Definition: During busy periods, part-time workers are employed to meet the needs of the employer. At quieter times the core full-time staff are sufficient. Clearly this has cost-saving implications.
28
human resource plan
Matching up the right type of the employees to the needs of the business. * Method by which a business forecasts demand for employees – How many? What type? Where are they needed? When are they needed? * Analyses current employees. What characteristics (age, qualifications, etc.)? * Planning internal supply – promotion, training, retirement. * Planning external supply – unemployment rates (local and national), government policy, skills, population trends.
29
importance of workforce planning
* Important to establish that sufficient numbers are being employed in order that all necessary tasks can be carried out. * Helps a business to cost how many workers it will need in the future and whether they are part time or full time. * It is important to identify the skills necessary for the vacancies they may wish to fill.
30
job analysis
Definition: The process that identifies and determines in detail the particular duties and requirements of the job, and also what the position requires in terms of aptitudes, knowledge, and skills.
31
adding value
Definition: Added value is found in the difference between the cost of purchasing raw materials and the price at which the finished foods are sold. * Formula: Selling price – Bought-in goods and services
32
job production
Definition: A unique product that is often made by a skilled craftsman specific to a person’s requirement. Examples: Wedding dress, tailor made suits, buildings, bridges and ships.
33
batch production
Definition: The manufacture of a limited number of identical products. Within each stage of the production process, work will be completed for the whole batch before the next stage is begun. Examples: Clothes, paint and production of loaves of bread.
34
flow production
Definition: Production is organised so that different operations can be carried out one after the other, in a continuous sequence as production moves continuously from one stage of the process to the next. Examples: Cream Eggs, golf balls and car manufacturing.
35
productivity
Definition: Productivity is a measurement of the efficiency with which a business turns production inputs into output. Both labour and capital productivity can be measured.
36
capacity utilisation
The use that a business makes of its resources. * Measured by comparing actual output with potential output at full capacity.
37
spare capacity
To measure spare capacity, we look at output as a percentage of total capacity. If the level of spare capacity is significant (i.e. large enough to be of concern), then this underutilisation of factors of production can have major effects on businesses.
38
subcontracting
Definition: Getting someone else to produce the goods for you. By using subcontractors there is a reduction in risk to the business.
39
rationalism
Definition: Concentrating on core products or services and disposing of those products or services when they are not seen as profitable or necessary to the business' long-term success.
40
benefits of quality
* increased sales * reduced costs * reduced waste * market orientation * customer satisfaction.
41
Fredrick Taylor
Taylor believed that people only work for money and that they should be told exactly how to do their jobs. * He broke down the production process into a series of small tasks that could be carried out by relatively unskilled employees. * He believed in close supervision of the workforce to ensure that they continued to make the maximum effort possible, motivated by pay. *** He believed in paying people according to how much they produced** – piecework. Scientific management in practice Taylor’s ideas of scientific management based motivation on financial rewards. When applied to the workplace, there are several features that characterise scientific management: * workers are paid for carrying out specific tasks – they are not paid for thinking * they are paid for levels of output produced – this involves the use of piece-rate payments * there is a tall hierarchy within organisations, with little scope for upward communication * the best (most efficient) method of working is to be adopted by all workers * close supervision of workers and monitoring of performance exists.
42
Mayo
tried various different working methods on the group, such as different bonus methods, different lighting and different rest periods. He found that productivity increased with every change, even when the changes made the conditions worse. He believed productivity rose because of: * greater communication * better teamwork * showing an interest in others * involving others in decision-making * ensuring the wellbeing of others * making work interesting and non-repetitive.
43
hezburg two factor theory
He identified two major sets of influences at work: Hygiene factors are all around the job, but are not part of the job. They do not lead to motivation, but without them employees become dissatisfied with: * company policy and administration * supervision * working conditions * salary * relationship with fellow workers. Motivators relate to the job itself and can be used to positively motivate employees: * personal achievement * recognition * interest in the work itself * responsibility * growth and advancement. Herzberg believed that hygiene factors and motivators should be used together.
44
maslow hierachry of needs
Physiological Needs – By offering competitive salaries, etc. a business is able to satisfy basic needs of their employees in relation to food, drink, rest and activity. Staff discounts. * Safety Needs – By providing a healthy work environment. Helps employees to choose the best option for a healthy work-life balance by offering good holiday entitlement. * Social Needs – Affiliating or being part of a group – teamwork, open communication. A sense of belonging is generated. * Esteem Needs – By recognizing that all employees should feel that they contribute to the achievements of the business and placing great emphasis on providing positive feedback rewarding staff for their achievements. Promotion from within. Ensuring they feel competent – provision of good training. * Self-Actualisation – By providing employees with the opportunity to take on challenging and stimulating responsibilities in an attempt to reach their full potential. For example, providing the opportunity for individuals to take ownership of projects – this enables them to develop and improve. (TOP OF TRIANGLE)
45
internal and external recruitment
Internal recruitment involves finding someone already employed by an organisation to fill a vacancy. Internal vacancies may simply be placed on a notice board External recruitment is when the business looks to fill a vacancy from any suitable applicant outside the business.